Providence Forge, Charles City County, Virginia Property Taxes
The median property tax rate in Providence Forge, VA is 0.83%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value in Providence Forge of $124,400, the typical annual property tax bill amounts to $1,061, well below the national median of $2,690. Property taxes in Providence Forge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Providence Forge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Providence Forge or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Providence Forge, Charles City County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,033
$958
Ownwell’s Providence Forge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Providence Forge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Providence Forge to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Providence Forge, Charles City County, Virginia
Property taxes in Providence Forge, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Providence Forge is 0.83%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Providence Forge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Providence Forge estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Providence Forge's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23140 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Providence Forge provides valuable insights into the varying tax landscape across Charles City County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Property Tax Rates Across Providence Forge, Charles City County, Virginia
Source: Ownwell
0.77%
0.80%
0.83%
Average Providence Forge Tax Rate
0.83%
Average Charles City County Tax Rate
0.82%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Providence Forge, Charles City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23140 | 0.66% | 0.76% | 0.83% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Providence Forge, Charles City County, Virginia
In Providence Forge, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Charles City County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Providence Forge, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Providence Forge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill in the 23140 zip code is $1,061, highlighting the area's property tax landscape.
Property Tax Assessment Values Across Providence Forge, Charles City County, Virginia
Source: Ownwell
$83,000
$210,550
$338,100
Average Providence Forge Assessed Value
$124,400
Average Charles City County Assessed Value
$130,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Providence Forge, Charles City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23140 | $50,180 | $85,900 | $124,400 | $182,000 | $233,260 |
Source: Ownwell
Property Tax Bills Across Providence Forge, Charles City County, Virginia
In Providence Forge, Charles City, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in this region can expect varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Providence Forge is $124,400. Property tax bills in this area range significantly, with the 25th percentile at $674 and the 75th percentile at $1,551. Those in the 90th percentile can see tax bills as high as $1,995. The median property tax bill in the region stands at $1,061, which is slightly above the national median property tax rate of 0.99%. This tax burden can impact homeowners by influencing their overall housing costs and potentially affecting their decisions on buying or selling property. Understanding how these taxes are calculated helps homeowners plan better for their financial responsibilities.
Property Tax Bills Across Providence Forge, Charles City County, Virginia
Source: Ownwell
$691
$1,672
$2,653
Average Providence Forge Tax Bill
$1,061
Average Charles City County Tax Bill
$1,115
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Providence Forge, Charles City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23140 | $378 | $674 | $1,061 | $1,551 | $1,995 |
Source: Ownwell